How to Earn More Out of Your Rental Property

How to Earn More Out of Your Rental Property

Published on 22nd March 2018

How to make the most out of your rental property? First thing first, find the online letting agents you can trust.

We are online letting agents trusted by scores of buy-to-let landlords across the UK for help with finding the best tenants for their buy-to-let property. We help you maximize the profitability of your rental property, even at a time when there is a slowdown in the housing market.

Follow the tips given here to earn more out of your rental property...

Tip #1: Location, location, location

The location makes all the difference as far as your rental property is concerned. If you have a buy-to-let property close to a college or university, you will have no trouble attracting overseas students and lecturers, who pay good money for a well-kept home. The location decides how much you’re going to make out of the property, but that is not the only factor by any means.

Tip #2: Clean-up the property; give it a good paint job before letting it out to a tenant

Most tenants these days look to stay in a rented house or apartment for at least two years, maybe more. So they want a house that they can call their own. The least you can do as a landlord is to make sure that the property is properly cleaned up and given a good new coating of fresh paint. The house should be well maintained, should have no damp spots, and easy to heat.

Tip #3: Renovate the kitchen and the bathrooms

The first thing a potential tenant checks when they come visiting is the condition of the kitchen and the bathrooms. If the kitchen looks old and dilapidated and the bathroom looks dirty, that could be a turn off for most of your tenants. If you are struggling to find a tenant for your house, perhaps that could be the reason. Hire a building contractor to renovate the kitchen and the bathroom. Hire plumbers to repair the pipes and make sure that all the systems are fully functional.

Tip #4: Add en suites to the rental property

Adding en suites and private facilities to the rental property makes sense if you are letting out rooms, as this will help you attract wealthier tenants who will be willing to pay more for the use of the facilities.

Tip #5: Extend the space

Consider the option to add extra space to the property so that you can have more rooms to rent. The more rooms you have, the more money you’re going to make out of your rental property, as simple as that. Adding an extension will boost the rental income for sure – Just make sure to get the necessary permission for the same from the local authorities.